Karyl Beverley

Standard Mileage Rate 2024 Tennessee. This notice also provides the amount taxpayers must use in calculating reductions to basis for depreciation taken under the. The per diem rates shown here for lodging and m&ie are the exact rates set by the gsa for the month of july, 2024.

For taxpayers who use a vehicle for business purposes, the amount of the standard mileage treated as depreciation is 30 cents per mile. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 8.50 percent as published by the federal reserve.